The publication of the U.S. Prelim UoM Consumer Sentiment report at 13:55 GMT is set to lead USD trading today. This release measures the level of a composite index based on surveyed consumers. The figure is expected to be 67.2, up from last month's 65.7. The other important events that are set to drive the forex market today are GBP PPI Input at 8:30 GMT, the U.S. Import Prices at 12:30 GMT and U.S. treasury Secretary Timothy Geithner's speech at 20:45 GMT. Therefore, if you traders want to make big money now, you should open big positions in the majors now.

The Wild Card

Crude Oil

Crude Oil has been very bullish this week, and has given big returns for many forex traders. The weekly chart's oscillators seem to be showing mixed signals. However, the MACD of the 4-hour chart offers a more accurate picture that the trend for today may be a downward correction. Going short with tight stops seems to be the preferred choice for today.